Principal Financial Group Inc. raised its stake in Perficient, Inc. (NASDAQ:PRFT) by 2.0% during the 1st quarter, Holdings Channel reports. The firm owned 267,730 shares of the digital transformation consultancy’s stock after acquiring an additional 5,375 shares during the period. Principal Financial Group Inc.’s holdings in Perficient were worth $6,136,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in PRFT. Schwab Charles Investment Management Inc. lifted its holdings in shares of Perficient by 6.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 148,919 shares of the digital transformation consultancy’s stock valued at $2,840,000 after buying an additional 8,740 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Perficient in the 4th quarter valued at approximately $231,000. First Trust Advisors LP lifted its holdings in shares of Perficient by 12.1% in the 4th quarter. First Trust Advisors LP now owns 31,248 shares of the digital transformation consultancy’s stock valued at $596,000 after buying an additional 3,365 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Perficient by 14.2% in the 4th quarter. Wells Fargo & Company MN now owns 75,648 shares of the digital transformation consultancy’s stock valued at $1,442,000 after buying an additional 9,417 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Perficient by 221.9% in the 4th quarter. Arizona State Retirement System now owns 58,670 shares of the digital transformation consultancy’s stock valued at $1,119,000 after buying an additional 40,445 shares during the period. Institutional investors own 80.28% of the company’s stock.
In related news, COO Kathryn J. Henely sold 41,703 shares of Perficient stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $24.18, for a total transaction of $1,008,378.54. Following the completion of the transaction, the chief operating officer now directly owns 234,298 shares of the company’s stock, valued at $5,665,325.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey S. Davis sold 1,500 shares of Perficient stock in a transaction on Friday, May 25th. The stock was sold at an average price of $25.68, for a total value of $38,520.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 229,093 shares of company stock valued at $5,862,311. 3.70% of the stock is currently owned by insiders.
Several analysts have recently commented on PRFT shares. Zacks Investment Research cut Perficient from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. ValuEngine raised Perficient from a “buy” rating to a “strong-buy” rating in a report on Friday, April 27th. BidaskClub cut Perficient from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. Finally, Maxim Group reissued a “hold” rating on shares of Perficient in a report on Monday, April 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.25.
Shares of Perficient opened at $26.70 on Friday, MarketBeat.com reports. The firm has a market cap of $933.94 million, a P/E ratio of 28.11 and a beta of 0.67. Perficient, Inc. has a 1 year low of $16.70 and a 1 year high of $27.51. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.15.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Tuesday, May 1st. The digital transformation consultancy reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $120.94 million during the quarter, compared to analysts’ expectations of $115.90 million. Perficient had a return on equity of 9.70% and a net margin of 4.20%. Perficient’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. research analysts predict that Perficient, Inc. will post 1.15 earnings per share for the current year.
Perficient Company Profile
Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.
Want to see what other hedge funds are holding PRFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perficient, Inc. (NASDAQ:PRFT).
Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.